Central banks act again
The Fed on Friday injected a total of $38 billion into the markets in three steps, which began with a $19 billion injection into the banking system, followed by a second addition of $16 billion and finally a third dose of $3 billion.
The Fed's decision to conduct multiple operations could mean "there is a greater strain in the market than is evident" or that the central bank wants to make sure there is enough liquidity in the financial system to help it stabilize, said Crescenzi.
Earlier, the European Central Bank added another $83.6 billion, after Thursday's $130 billion injection, and the Bank of Japan on Friday added $8.5 billion.
The U.S. Federal Reserve on Thursday added $24 billion in temporary reserves, and Canada's central bank put $1.55 billion into the markets.